It is already nearing the end of financial year and it is an odd time for all of us given the current global circumstances…
While you are probably busy with business reporting and the headache that COVID-19 is causing, it is also a great time to get your home or business security in order.
Why you ask?
Small businesses here in Australia are entitled to a 100% tax deduction on purchases under $30,000, meaning that you have a great deal of flexibility in investing in new asset purchases, HOWEVER with recent government economy stimulation efforts, the tax deduction can be applied to purchases over $150,000.
The government has also expanded the access to this tax deduction to businesses with an annual turnover of up to $500 million (up from $50 million).
What can be claimed?
Businesses with an annual turnover of up to $500 million can claim expenses made on any item that assists in running the business. Assets that are classified under this include, but not limited to tools, software, printers, computers, furniture, etc. Best of all, you can have unlimited purchases under this scheme.
With the threshold raised to $150,000, the new depreciation rules open up a wider range of possibilities for asset investments, including high value items such as cars, high value IT hardware, and of course security installations, including security camera systems, alarm systems, and electronic access control systems.
Timing
This proposal applies from 12 March 2020 until 30 June 2020, for new or second‑hand assets first used or installed ready for use in this timeframe.
Here’s an example:
Business benefits from increased asset threshold:
Owen owns a company, Signal Food Manufacturing Pty Ltd, through which he operates a food production business in the northern suburbs of Victoria. Signal Food Manufacturing Pty Ltd has an aggregated annual turnover of $25 million for the 2019‑20 income year. On 1 May 2020, Owen purchases a new security system including CCTV, an Alarm System and Access Control for $140,000, exclusive of GST, for protection of his business.
Under existing tax arrangements, Signal Food Manufacturing Pty Ltd is not able to immediately deduct assets costing more than $30,000 and instead would depreciate the security system using an effective life of 12 years. Choosing to use the diminishing value method, Signal Food Manufacturing Pty Ltd would claim a tax deduction of $3,899 for the 2019‑20 income year.
Under the new $150,000 instant asset write‑off, Signal Food Manufacturing Pty Ltd would instead claim an immediate deduction of $140,000 for the purchase of the security system in the 2019‑20 income year, $136,101 more than under existing arrangements. At the company tax rate of 27.5 per cent, Owen will pay $37,427.78 less tax in 2019‑20.
This will improve Signal Food Manufacturing Pty Ltd’s cash flow and help his business withstand and recover from the economic impact of the coronavirus.
Conclusion
This new policy should be a boon for businesses Australia-wide and will make it easier to invest in assets which make doing business more efficient and safer for all involved. Electronic security of all kinds is a necessity for so many businesses, especially during the tough times the country is experiencing now, and we’re happy that we can offer high-security solutions which now sit under the increased threshold.
Note: Obviously we’re electronic security specialists, not professional tax advisers. Please ensure you seek professional advice to determine whether you are able to claim a deduction for such purchases and more about this policy as it relates to your circumstances. For more information, please see the Australia Taxation Office’s information on the new policy announcement here
The term “peace of mind” is referred to a lot these days especially within the security industry. Time and time again companies promise that their product and/or service will provide it, but very rarely are they able to demonstrate exactly how they will deliver on their promise.
In order to solve this age old challenge, we must first ensure we gain a deeper understanding of what causes ones angst as well as have the tenured experience to know which solution or more often than not, which combination of solutions are required to adequately mitigate the risk.
With 20 years of experience protecting thousands of Australian homes and businesses, Signal Security has been building on its experience and continuously evolving its thinking with the aim of formalising a methodology that all team members can be trained in to help its customers achieve “true” peace of mind.
At the core of this methodology is what Signal Security CEO and Co-founder Justin Nesvanulica refers to as the “Hierarchy of Electronic Security” – the logical order to which systems and services should be considered to deliver maximum impact and return on investment.
Most people are under the impression that the number one priority for the security industry is to prevent loss and/or damage to property. In fact, the industry’s core priority is much more meaningful, it’s to prevent harm to the most valuable asset we will ever possess… OURSELVES!
Therefore it is important to understand that achieving peace of mind is not simply about installing a CCTV camera outside of your premise but about understanding why certain systems are installed, what their core purpose is and how layering numerous systems and services will go a long way to stopping those fleeting thoughts of whether or not your security has been compromised.
With so much on the line, where do we start? There is nothing more effective in preventing harm and loss than a professionally installed intrusion detection system (burglar alarm) with fixed or portable panic buttons. Depending on the size, shape and layout of a property, coupled with its level of risk, an intrusion detection system can come in all shapes and sizes with various types of detection devices i.e. motion detectors, door/window switches and glass breakage detectors.
Nonetheless, the key to preventing harm and loss is trying to detect an unauthorised entry as close to the perimeter as possible and ensuring there are an adequate amount of warning lights and sirens once activated, the attention drawn to the property will make even the most brazen criminals limit their time within the property, therefore minimising the opportunity for loss and in most cases preventing it completely.
Having sirens sound as early as possible becomes even more important if there are people residing in the property at the time of an invasion as it provides valuable seconds for an attempt to retreat to the most secure areas of the property. Fixed or portable panic buttons are an extremely effective way to activate sirens moments before or during an attempted invasion as occupants can trigger sirens as soon as they feel threatened. The piercing sound of internal sirens are designed to cause havoc on the human middle ear which in itself will naturally drive intruders out reducing the likelihood of altercations occurring between them and the occupants inside.
Intrusion detection systems are cost effective, provide exceptional value for money and should be considered first and foremost before all other security products. An intrusion detection system is the only solution that will actually minimise the impact of an unauthorised intrusion and should form the foundation of any comprehensive security solution.
In its raw form, an intrusion detection system is a powerful tool that drives intruders away with its loud sirens and flashing lights but relies heavily on neighbours and passers-by to act swiftly in the case of an emergency. Unfortunately, in today’s day and age sounding alarm sirens will more often than not be ignored.
The only way to guarantee a response is to connect your intrusion detection system to a professional security monitoring centre. With highly trained security monitoring professionals available 24-hours a day, 7 days a week to ensure that every alarm signal received is dealt with in the shortest amount of time possible and that help can be sent in times that you need it most.
Most people are unaware that all mainstream intrusion detection systems are designed to be professionally monitored and have inbuilt features to request help via the monitoring centre, where the services of the Police, Ambulance and Fire Brigade can all be summoned at the touch of a button. In addition to being notified in the unfortunate event of a break in, you will also have a quick and convenient way of requesting assistance in the event you are faced with a life-threatening emergency.
Adding a professional monitoring service to your system is an easy way to transform your “noise maker” into a potential life saver and contrary to what you may think a lifesaving service such as this could cost, it’s actually really affordable with your investment being less than half a cup of coffee a day.
If a professionally installed intrusion detection system will aid in the prevention of harm and loss, and the addition of a professional monitoring service to the system will initiate an emergency response. Then what next? We need to find a way to assist with the real time verification of events as well as being able to retrospectively go back in time and review any events of interest which leads us to integrating surveillance cameras (CCTV system) into the fold.
Should an unfortunate event occur at your property the monitoring centre will call you to inform you of the breach. Being informed that a movement detector has been activated is one thing, however being able to cross reference it with live video footage is another. Having the ability to quickly and easily review as much information as possible on your smart device or laptop computer pertaining to the incident is crucial to obtaining the quickest Police response possible. A CCTV system will allow you to see what happened, show you how it happened, provide a full timeline of events from start to finish and give you every opportunity of identifying those responsible. Without this information it will be almost impossible to track down and prosecute the perpetrators and recover any of your losses.
A professionally installed CCTV system is the perfect companion to your intrusion detection system and professional monitoring service and should not be considered before the previous solutions are in place. Without them intruders will have nothing to drive them away from the premise and will allow them an ample amount of time to spend searching your property for items of value. Nothing is more frustrating that being a victim of a burglary only to watch recorded footage of how they did it and got away with it. Worse yet, arriving onsite only to find that your CCTV recorder with all your recorded footage was also taken.
Adding a professionally installed CCTV system is an important addition to overall security and should be treated as such. Being a passive solution, CCTV will never stop or minimise an incident from occurring it will merely show you how it happened.
Remember, peace-of-mind can come from the implementation of a range of security products and services, however, as a security provider with over 20 years’ experience, we believe that the way to achieve true peace of mind is by following the above steps.
If true peace of mind is your goal, there is no better way to go about your electronic security than making sure that you’re minimising loss and harm, initiating an immediate response and finally, verifying incidents and gathering evidence.
Want to achieve “true” peace of mind?
Our friendly, knowledgeable team of security specialists are on hand to assist with any security challenges you may be experiencing. To organise a free, no obligation on site security risk assessment please contact our team on 1300 73 83 93.
There are approximately 3000 security alarm and fire installation businesses across Australia. Almost half of these have only one employee; 97% have less than twenty employees.
Choosing the right security installer to service your premise isn’t an easy task, so these hints should hopefully assist in narrowing down the field.
Ensure you engage with a security company that is licensed by your state’s police authority and is an active member of the Australian Security Industry Association Limited (ASIAL).
The Victoria Police and ASIAL provide protection for consumers by ensuring that security installers and specialists who are licensed by their respective organisations meet stringent police checks and technical competencies. Some states, e.g. Victoria, have a public register where you are able to search for the name of the security installer or specialist that you speaking with to verify their licence. Always ask to see the consultant/installer’s security licence before letting them into your premise. Note: An electrician is not a security technician, so be careful of those who claim to be able to assist you.
Be wary of companies that cannot provide a written quotation and are reluctant to provide equipment brand names and model numbers.
Transparency is the key to ensuring that you know that you’re receiving what you’re expecting. If things go wrong, you need to be assured that you are able to obtain documentation to prove specifically what has been agreed upon. It’s very easy for companies to put in ‘ifs’, ‘maybes’, or extra ‘conditions’ after you’ve agreed to go ahead.
Ensure you use quality brands that are well supported in Australia. And try to avoid no-name brands with lack long term warranties and quality assurance.
Look to use a company that has a higher skilled network of technicians, rather than those that use subcontractors who are chosen only on their price and availability.
When making a significant investment, you should be looking at a company which is able to provide you with a high quality of installation. A company that uses a strong network of technicians is better able to maintain the quality of the installation process, guarantee competence in whatever brand is being installed, creating system documentation, and providing training on how to use the system, as well as the small but important things such as cleanliness and friendliness.
Poor quality contractors being paid per installation tend to try and get the job done as quickly as possible using minimal, lower quality sundries (e.g. cabling, brackets, etc.), cutting corners and compromising the overall quality of installation. Where there is no strong relationship, contractors being paid for longer installations by the hour will unnecessarily extend the length of time required. This wastes not only your valuable time, but money as well, as the risks of the job running overtime are factored in and passed on in your original quote.
Warranties are only as good as the company offering them.
Spend time to research any company you invite into your premise. Check the address of the company/business that you’re researching. Is it an office or is it someone’s home?
Remember almost 97% of security businesses in Australia employ less than twenty employees; half of these businesses have only one employee. Be cautious of one-man operators that may be here today, gone tomorrow. A company that is established and managing ongoing business relationships with large companies is a very good indicator of being able to support you for the lifetime of your investment.
These days, it’s relatively easy for very small businesses to set up a pretty website or post fake reviews to make themselves look larger than they actually are, so be cautious. If you can’t find websites, phone listings, independent reviews, or case studies you’re probably better off looking elsewhere.
Conclusion: Picking the Right Security Installer
Always make sure you’re using a well established company when approaching the installation of security equipment to your premise. Don’t be afraid to ask the installers that you contact, if there’s anything that you’re unclear about in regard to their accreditation, product models, technicians, and how established their business is.
It may seem like a little extra work, but a bit more research at the start can save you a lot of hassle down the track.
Want to speak with a Signal Security team member? Contact us today.
In the past, high costs and complex installation processes have prevented CCTV from being within reach of the average Australian businesses. Recently, improvements in technology and a greater worldwide demand have made a place for video surveillance systems in the retail market, as they become an affordable and effective tool for business owners to track efficiency and staff.
Management benefits of CCTV:
Continuous record of events:
Insurance:
CCTV security can be a single camera and monitor, or as complex as hundreds of cameras and digital recorders with multiple operators. When choosing your system, high-definition, anti-vandal and weather resistant cameras are all available.
If you’d like to discuss how Signal Security’s CCTV systems can better protect your small business, call our team of experts today on 1300 73 83 93 to arrange a customised solution.
